Below is a chart and brief excerpts from today's Early Look written by Hedgeye CEO Keith McCullough.
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If your morning-to-date isn’t your big moment to make the best next decision in both your life and your portfolios, what is? Is there a magical day that starts every calendar year where everyone is going to get a big compensation-to-date moment? C’mon. No, you don’t have to be a knucklehead student-athlete like me to learn from professional athletes, musicians, or mathematicians. In this business you should, however, have an open mind to evolve and adapt your decision making #process. Unlike long-term cycles and experiences risk managing them, past is not prologue in terms of market returns. Personally, I don’t anchor on “year-to-date” because I don’t have an expectation for new cycles or ideas to start and end on Wall Street’s year-end compensation dates. Yep, I’m different. My firm is different. And what I did into yesterday’s all-time closing high for the SPY was different too. |
